According to Futu News on May 13, Semiconductor Manufacturing International Corporation released its results for the three months ended March 31, 2020 after trading in Hong Kong today. The financial report shows:

• Revenue in the first quarter was $904.9 million, with market expectations of $857 million, compared with $670 million in the same period last year.

• The net profit of homing in the first quarter was $64.2 million, and the market is expected to be $43.96 million, compared with $12.27 million in the same period last year.

• Gross profit in the first quarter was $233.6 million, an increase of 17.1% over the fourth quarter of 2019 and 91.4% over the first quarter of 2019.

• The gross profit margin in the first quarter was 25.8%, compared with 23.8% in the fourth quarter of 2019 and 18.2% in the first quarter of 2019.
  

• Capital expenditure of $777.2 million in the first quarter

• In addition, Semiconductor Manufacturing International Corporation expects revenue to grow 3-5 per cent in the second quarter from a month earlier, expects a gross profit margin of 26-28 per cent in the second quarter, and plans to increase capital expenditure from $3.2 billion to $4.3 billion in 2020.
  

Semiconductor Manufacturing International Corporation co-CEO, Dr. Zhao Haijun and Dr. Liang Mengsong commented: "due to better-than-expected market demand and product structure, the company's first-quarter revenue reached 905 million US dollars, an increase of 8% month-on-month and 35% year-on-year. Record quarterly revenue. Revenue related to communications, computers and consumer electricity grew year-on-year, gradually increasing market share. "

Market expectation

According to Bloomberg's consensus forecast, SMIC's Q1 revenue is expected to be $863 million, up 29% from a year earlier, while adjusted EPS0.009 dollars are up 254% from a year earlier.

Recommended reading > >Full text of Semiconductor Manufacturing International Corporation's Q1 Financial report